Fiscal policy

The G20 Summit Approved a Minimum Corporate Tax of 15%

The leaders of the world's largest economies today supported the imposition of a minimum tax rate on corporations, the Associated Press reported.

The agreement reached at the G20 summit in Rome aims to establish international tax rules so that multinational companies cannot avoid taxation by registering in offshore territories.

Official Daianu: Financial crisis and pandemic push public debt up to 47pct of GDP in end-2020

The financial crisis and the pandemic have led to an increase in the public debt from about 15% of GDP in 2008 up to over 47% of GDP at the end of 2020, with a fiscal consolidation with an average annual deficit correction rate of approx. 1.5% of GDP to stabilize the debt at just over 50% of GDP by 2024, says the president of the Fiscal Council, Daniel Daianu.

Greece plans early repayment of loans

Greece is "getting rid" of expensive debt, laying the groundwork for the early repayment of part of the bilateral loans from the first Memorandum of 2010 (2.7 billion euros per year) and the further repayment of IMF loans (1.9 billion euros). The signal was officially sent by the Minister of Finance Christos Staikouras and according to information, these moves will start in the near future.

EU Finance Ministers Meet in Slovenia Friday Saturday to Amend Budget Spending Rules for Member States

European governments have spent hand over fist, despite ballooning public debt, to prevent the coronavirus pandemic from triggering economic calamity.

Now, the European Union faces calls to loosen its budget rules to allow the largesse to continue, but the topic is a sensitive one for many member states.

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